Lennar Corporation $LEN Shares Acquired by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. increased its holdings in Lennar Corporation (NYSE:LEN) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,067 shares of the construction company’s stock after acquiring an additional 7,759 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Lennar were worth $7,267,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC boosted its holdings in Lennar by 2.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,067 shares of the construction company’s stock valued at $413,000 after purchasing an additional 124 shares during the last quarter. KCM Investment Advisors LLC increased its holdings in Lennar by 1.3% during the 1st quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock worth $858,000 after purchasing an additional 125 shares during the last quarter. Wisconsin Wealth Advisors LLC increased its holdings in Lennar by 2.2% during the 3rd quarter. Wisconsin Wealth Advisors LLC now owns 6,495 shares of the construction company’s stock worth $530,000 after purchasing an additional 140 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Lennar by 5.4% during the 1st quarter. Ritholtz Wealth Management now owns 2,926 shares of the construction company’s stock worth $254,000 after purchasing an additional 150 shares during the last quarter. Finally, Unison Advisors LLC raised its position in shares of Lennar by 0.4% in the 1st quarter. Unison Advisors LLC now owns 37,815 shares of the construction company’s stock valued at $3,284,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on Lennar from $85.00 to $69.00 and set an “underperform” rating for the company in a research note on Friday, September 18th. Citigroup dropped their price target on shares of Lennar from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, September 21st. Melius Research initiated coverage on shares of Lennar in a research note on Tuesday, October 6th. They set a “sell” rating and a $72.00 price objective on the stock. Citizens Jmp reissued a “hold” rating on shares of Lennar in a report on Thursday, September 17th. Finally, BTIG Research reissued a “sell” rating and issued a $63.00 target price on shares of Lennar in a research report on Friday, September 18th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average price target of $79.00.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 1,708,095 shares of the stock in a transaction dated Friday, October 2nd. The stock was acquired at an average price of $79.44 per share, for a total transaction of $135,691,066.80. Following the completion of the transaction, the insider owned 28,438,045 shares of the company’s stock, valued at approximately $2,259,118,294.80. The trade was a 6.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 7,502,276 shares of company stock worth $595,303,287 over the last three months. Insiders own 10.05% of the company’s stock.

Lennar Trading Down 1.5%

Shares of NYSE LEN opened at $83.28 on Thursday. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 3.19 and a beta of 1.36. Lennar Corporation has a 12-month low of $71.78 and a 12-month high of $133.76. The company has a current ratio of 4.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $81.10 and its 200 day simple moving average is $91.93.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, September 16th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $8.32 billion. Lennar had a return on equity of 6.15% and a net margin of 4.09%. Lennar’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 earnings per share. Equities research analysts expect that Lennar Corporation will post 4.88 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Wednesday, October 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Lennar’s payout ratio is 37.81%.

Lennar Profile

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.